HSA News for Feb 25, 2019

Here is the latest news for this week from Mr HSA Roy Ramthun.

News from Washington

CMS: Flood of Baby Boomers to Drive Growth in U.S. Health Spending

Health spending in the U.S. is expected to grow from $3.6 trillion in 2018 to $6.0 trillion by 2027, according to a new report from CMS actuaries.The estimated growth in spending will be driven largely by an influx of baby boomers enrolling in Medicare, income growth, and the rising costs of medical goods and services.

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Health Care and Insurance Industries Mobilize to Kill ‘Medicare for All’

Even before Democrats finish drafting bills to create a single-payer health care system, the health care and insurance industries have assembled a small army of lobbyists to kill “Medicare for all,” an idea that is mocked publicly but is being greeted privately with increasing seriousness.

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HSA Studies & Analysis

Do CDH Plans Really Work?

CDHPs paired with an HSA are coupled with a new philosophy which brings comparison shopping and savvy consumerism into the healthcare space. If healthcare consumers have “more skin in the game,” i.e. they will shop around for the best deal on doctor visits, prescription medicines and more. It sounds good in theory, but does it really work? Some actuaries say yes.

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The Connection Between High Deductibles and Workers' Comp Claims

A new report from the Workers Compensation Research Institute finds that as deductibles rise, employees are more likely to turn to comp claims rather than their own group medical coverage.

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HSA Compliance Corner

Following the HSA Rules

HSAs present owners with a great opportunity to enjoy immediate tax savings and build medical equity. But with that responsibility comes a degree of compliance that owners don't experience if they've participated in an employer-based Health FSA or HRA before. What do you need to know?

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The HSA Market

Insurers Hand Out Cash and Gifts to Sway Brokers Who Sell Employer Health Plans

The pitches to the health insurance brokers are tantalizing. Such incentives sound like typical business tactics, until you understand who ends up paying for them: the employers who sign up with the insurers — and, of course, their employees.

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Maximizing Your HSA

5 Ways That HSAs Help Make Us Smarter Healthcare Consumers

With the added autonomy and financial accountability of HDHPs with HSAs, employees are being increasingly pushed to take greater control of their own healthcare. Here are five of the ways that HSAs make us smarter healthcare consumers.

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Two Components to HSA: Insurance and Savings

There are two components to an HSA, the insurance component and the savings component. You don't have to participate in the savings component. The insurance component is simply a large deductible, 100 percent coverage after the deductible, cheaper-premium health insurance plan.

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Consumer-Driven Health Care

Wondering if Your Patients Price Shop? Ask if They Have an HSA.

Our recent research indicates the presence of HSAs may be a more effective gauge to measure the extent of a patient's consumeristic behavior. Revenue cycle leaders should use this finding to ensure HSA patients are put in the best position to deliver quick and full payment.

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Hospital Drug Prices Are Up to 7 Times Greater than Medicare Pricing

A new study of 34 hospital systems found that the average drug prices in a hospital are three to seven times higher than what Medicare charges for the same medication.

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As Value-Based Efforts Lag, Push for Price Regulation Gains Momentum

Policymakers and experts who favor attacking price increases have gained momentum, with both congressional Democrats and the Trump administration pushing price-setting proposals. Their arguments are buttressed by growing research showing that rising prices for hospital and physician services and drugs are a major driver of increasing healthcare spending.

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Bryan CaplanComment